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Using a large, original database of 385 politically connected firms under the Mubarak regime in Egypt, we document for the first time the negative impact of cronyism on economic growth. In the early 2000s, a policy shift in Egypt led to the expansion of crony activities into new, previously...
Persistent link: https://www.econbiz.de/10011544875
We derive a framework for asymptotically valid inference in stable vector autoregressive (VAR) models with conditional … heteroskedasticity of unknown form. We prove a joint central limit theorem for the VAR slope parameter and innovation covariance … parameter estimators and address bootstrap inference as well. Our results are important for correct inference on VAR statistics …
Persistent link: https://www.econbiz.de/10011490564
Persistent link: https://www.econbiz.de/10012666325
The study has surveyed the post-Arab Spring youth employment policies that have been adopted in Egypt, Morocco, Jordan, and Tunisia. In addition, the study examines whether and how the economic policies implemented in these countries led to high levels of youth unemployment prior to the Arab...
Persistent link: https://www.econbiz.de/10012020135
Persistent link: https://www.econbiz.de/10012209985
This study explores the benefits of incorporating fat-tailed innovations, asymmetric volatility response, and an extended information set into crude oil return modeling and forecasting. To this end, we utilize standard volatility models such as Generalized Autoregressive Conditional...
Persistent link: https://www.econbiz.de/10014252427